Registration is compulsory in-
a)Sole Proprietorship
b)Co-operative society
c)Partnership
d)Joint Hindu Family Business
Answers
(d)Joint Hindu Family Business
Answer:
Registration is compulsory in a Co-operative society but not in the cases of sole proprietorship, partnership and joint Hindu Family Business. Hence, we can conclude that the answer to the abovementioned question is option B which states, "Co-operative society".
Explanation:
Registration is a legalised way of enrolling something in an official book. Anything can be registered as long as it is legal and not unconstitutional. There as some basic rules and regulations behind it. It is not necessary for us to register every possible thing but there are some mandatory regulations which are followed in India.
Registration of a Co-operative society is mandatory under the Co-operative Societies Act, 1912. Under this Act, it is mentioned that it is necessary to register a co-operative society so that people can not come up with fraud societies for their own facilities.
A sole proprietorship is an one man show but it is not necessary to get themselves registered as long as it is not a company. Only, in case of a company, registration is compulsory but not in cases of Sole proprietorship or partnership. Law is lenient in such cases.
Hindu Joint Family Business comes under the Hindu law. Hindu law is mostly based on the age old ethics and believes of the Hindus. It does not fall under specific definition, hence it is not compulsory to get itself registered.
Hence, we can safely conclude that only Option B which states "Sole proprietorship" is the answer to the abovementioned question.
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